The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1887-12-25

look which the merits or the case
would justify. -.
We give the result, the name of the
firm being mentioned only. The intro
ductory formula is omitted.
CANNON BROTHERS, 80 MAIN ST.
Q.-How long have you been in the
business, and what changes have taken
place?
Ave commenced on the 9th of last
April, and ever since then until now
there has been a gradual rise in the
value Of property, steady but firm IN
Increase in real estate transfers. There
have been no sudden fluctuations. In
some parts of the city, business has
been better than in others; as,
for insta &c, in the eastern part of the
city, and along Main street, business
men have bought and are still buying
residence property. However, there
has been more or less of uniformity in
business and acreage property.
Q-What do you give as the cause of
the rise in property?
| Al attribute it TO the fact that Salt
Lake is becoming better known oy
Eastern men. They are enquiring
about prices, climate, locations and
\ water, and find here the best
| location this side of Denver
When they Investigate they seldom leave
without buying, and they either i'm
prove or hold the land until there is q
| greater rise. AS an instance of the in
| crease on real estate p operty, it may be
stated that lot near Liberty Park Of
| five acres sold last spring for 81 ,000
| Another lot, on the same street, one
| hat mile further fro N town, four
months later, sold for $1,000, and there
were no improvements on either lot and
the soil was about equal on both. Again.
city lot sold last spring for 81, 700;
| five months later the same lot sold for
| 81 ,250, and there are numerous in
| stances where the rise has been equally
great, and YET we think that while
property has in some instances been
oVer-estimated, in very MANY cases it
has been estimated.
The property bought is generally for
residences, speculative purposes and for
manufactures. Most of it is purchased
by men VIII 4re able.to hold it and many
expect to cate here, as they see several
railroads heading this way.
@ What has been the best part OF
the year for transfers?
| A.-Well, we have this year had more
and better transfers than ever before.
| ~
up IN transfers by men of means, who
anticipate erecting buildings for manu-
featuring industries. They see that
Salt Lake is destined to become a great
city they are faYorebly impressed with
| the climate and the surroundings, and
as result, the gradual and steady in
! crease in sales has been remarkably
well maintained; for, by comparison
with value, location, ETC., with other
places, they are. strongly impressed
! hat this is the place to invest. [ have
been Intimately acquainted with real
estate transactions in Salt Lake for the
last ten years. 1t usually requires
about four years for a rise in value,
after a fall, to reach its maximum
| height; and this is on}y the first year
since the depression; and property is
now rising higher, in proportion TO the
short time since it commenced,
! than at any other period in the
| higher parts are brought more for resi-
dences, she central part for business
purposes, and the southern and
western parts for manufacture.
| In April, 1856, property to the value
| of $77.2l changed hands. In April
1887, the value of property sold
amounted to $637 ,6G5.
| Mr.. CaDaons ideas are particularly
valuable as he is the County Recorder
and has been connected with the office
for many years.
}. K. GILLESPIE, 240 s. MAIN STREET.
Q.-Do outside parties, in making in
quiries for real estate, ask about the
rate of tsxes2
A.-Yes, they are very anxious on
| this subject, and when told they are
| lower here than anywhere else, the gen.
eral remark is that they would rather
pay higher taxes and have greater i'm
provements on streets ard improve
ments of a general character, as il
would enhance the value of crop
erty at much greater ratio
than the taxes would amount to
They are really surprised with tie
! low taxation. Those who buy are
holding property mainly with a view
of improving it.
| Q.-Is your business good?
A.--Yes. / have been IN real estate
| business now some eight years, and
within the last eight mcnths l have
done better man at ANY other time
The time from April to July was the
very best period OF tnis year, but last
month was vscy lair also ,
Q.-What class of men buy the most
property?
A.-Tne railroad men are the big
gest buyers and nave bought the most
property They have bought from
$50, 600 to $175 900 worth; and they
don't buy it for fun either. They
have some object in view, !. {. I
think, oil making this their HON =.
Another reason is that other
| towns and cities are boomino, and
people find prices high on account OF
the pressure of the boom; while here.
they and prices comparatively low.
This is bringing many men here who
are investing. Very few come with
the intention OF buying, Who get
60 away without doing so. In
the coming spring l look for con-
siderable activity. get great num-
Der of letters every day from the Allan
tic and Pacific States, the writer's max
ing inquiries with view of coming out
here and investing. These people seem
well TO anders'2 aud that Salt Lake t,ity
is now about the best place ID the
country to. invest their means. They